Aurionpro reports revenues of Rs. 146.79 crores; PAT up 11.8%, in Q3 FY16-17

Aurionpro Solutions Ltd (NSE: AURIONPRO)(BSE: 532668), a provider of technology solutions for Banking, Digital Innovation and Enterprise Security, announced its financial results for the third quarter ended Dec 31, 2016.

Mumbai, Maharashtra, February 16, 2017 /India PRwire/ -- Aurionpro Solutions Ltd (NSE: AURIONPRO)(BSE: 532668), a provider of technology solutions for Banking, Digital Innovation and Enterprise Security, announced its financial results for the third quarter ended Dec 31, 2016.

Q3 FY16-17 Financial Highlights

  • Total revenue for the period was Rs. 146.79 Crores, down 11.3% QoQ

  • Consolidated EBITDA for the period was Rs. 12.95 Crores, down 25.0% QoQ #

  • Profit After Tax (PAT) was Rs. 6.07 Crores, up 11.8% QoQ*

# Includes Rs 7.3 Cr of investment in ISLATM Product Engineering and R&D.

*PAT is Net Profit after Minority Interests

*Includes Rs 1.8 Crores of finance cost for issuance of warrant in the US

Financial Highlights for the 9 months period ended December 31, 2016

  • Total revenue for the period was Rs. 454.21 Crores, down 14.04% YoYΩ

  • Consolidated EBITDA for the period was Rs. 45.14 Crores, down 34.4% YoY#

  • Profit After Tax (PAT) was Rs. 42.11 Crores, down 1.9% YoY*

Ω Last years' revenue includes Rs. 80.41 Crores of IT Consulting revenues

# It includes Rs. 24.56 Crores of Operational one-time costs

"We are very happy to report a growth in profits backed by a robust growth in our Digital Innovation & Banking businesses through the quarter," said Samir Shah, CEO, Aurionpro, "We are seeing some great business traction for our innovative ISLA™ - web malware isolation system. We launched our Virtual Teller Machine variant for our Branch in a box product series at IBEX in January, and will continue on a path of IP driven value creation."

"This quarter's results and nine month highlights are to be viewed in light of some one-time expenses, significant R&D and product development investments for ISLA and digital innovation business lines." Samir continued, "Having fully re-organized operational flow and financial structuring we are looking to strong growth in the coming quarter and accelerated revenue growth in financial year 2017-18."

Q3 FY 16-17 Business Highlights:

  • Aurionpro had significant wins in Banking for Cash Management Platform, its Kiosks business that transforms retail banking experiences and for IAM in Australia

  • Interact DX, SCMProfit also saw strong growth with sizable wins across the quarter in India, UAE, UK and South Asia.

  • Our government services practice saw new updates with new project wins in Chhattisgarh, Ministry of Youth Affairs, Rajasthan and Haryana.

  • ISLA™ - Web Malware Isolation System

    • Cyberinc's ISLA™ saw aggressive expansion and global rollout with regional launches in India, Australia, Singapore and the South Asian region

    • ISLA continues to gain traction across verticals including pursuits in pipeline with Government vertical in India and USA

    • ISLA™ as a product got strengthened through additional R&D investments, product upgrades and scores of Proof of Concept implementations

    • Cyberinc also signed up with national distributors for the product in India, Singapore, Australia and is fully scaled for global implementation

Key Financial Highlights:

  • Geography wise, US generated 32% of revenues, India contributed 25% of revenues, rest of the world generated 36% of revenues and Europe contributed 7% of revenues

  • Enterprise Security business generated 40% of revenues, Digital Innovation contributed 33% of revenues and Banking and Fintech generated 20% of revenues. Revenues from the Government vertical in India were 7%.

Notes to Editor

About Aurionpro

Aurionpro Solutions (NSE: AURIONPRO)(BSE: 532668) is a Aurionpro is global technology solutions leader that helps clients accelerate their digital innovation, securely and efficiently. We combine core domain expertise, thought leadership in innovation, security and banking, to leverage industry leading IP, and deliver measurable business results for global corporations.

With revenues of over $108MN USD and employing more than 1,300 experts across North America, Asia, and Europe, the company has been named among the top 100 technology companies for Financial Services worldwide in 2014. For more information, visit www.aurionpro.com.

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